And then on Monday, CNBCreported that Facebook could be looking at a valuation of more than $100 billion.

Social networking sites are beginning to gain some momentum in launching IPOs.

LinkedIn, which is usually seen as a B player in the social networking world, had a successful IPO just last month. It was the first U.S.-based social network to go public and its success inspired a lot of expectations of how bigger, more popular sites might do.

Early this month, Groupon, the online daily deals company, followed suit, announcing its own plan for an IPO. Groupon is aiming to raise $750 million.

Now Facebook, the big dog of the social networking world, is looking ahead to an IPO that could potentially tower over the others.